Legal Question in Tax Law in California

LLC minimum state tax $800
It's June, and I plan to form LLC for my business. I just found out CA has this hefty $800 minimum state tax. If I form LLC today then I have to pay $800 for 2006. Then I have to pay another $800 again at the beginning of next year (2007)? Do I understand this correctly?
Should I wait til January to form LLC to get more bang for the bucks?
And what's with this $800 anyway. Am I entitled to get it refunded if my state is less than $800?
Regards,
MP

Asked on 6/10/06, 7:37 pm

Donald Field Donald L. Field, Jr., Attorney at Law

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Re: LLC minimum state tax $800

see:

http://www.ftb.ca.gov/forms/misc/3556.html

to obtain the best results in entity selection, formation and taxation, you should retain a qualified tax attorney.

Answered on 6/10/06, 8:28 pm

Carl Starrett Law Offices of Carl H. Starrett II

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Re: LLC minimum state tax $800

Corporations are usually a better choice than an LLC. Feel free to contact my office if you want further assistance.

Answered on 6/10/06, 11:29 pm

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